Research Interest
Applied Microeconomic Theory, IO, Behavioral and Experimental Economics, Development Economics
Working Papers
Noisy Product Certification in Duopoly: Theory and Experiment (joint with Tri Phu Vu), under initial submission
All-pay Auctions in Presence of Loss-Averse Bidders, working paper
Theoretical and Experimental Evidence on Optimal Noise Structure in the case of Noisy Product Certification and Duopolistic Sellers (joint with Tri Phu Vu), working paper
Selected Publications
Profitability of Noisy Certification in the Presence of Loss-Averse Buyers (joint with David Seung Huh and Sung Ham), Journal of Industrial Economics, Vol. 71.3 (2023), pp. 770-813.
Quality Communication via Cheap-Talk Messages in Auctions: Experimental Analysis (joint with Jaesun Lee), Journal of Economic Behavior and Organization, Vol. 212 (2023), pp. 74-107. Experimental data: Stata.
Set-Level Strategic and Psychological Momentum in Best-of-Three Matches in Professional Tennis (joint with Craig Depken and John Gandar), Journal of Sports Economics, Vol. 23.5 (2022), pp. 598-623. Analysis of the best-of-five matches is here.
Incentives of Low-Quality Sellers to Disclose Negative Information, (joint with David Seung Huh), Journal of Economics and Management Strategy, Vol. 30.1 (2021), pp. 81-99. Experimental analysis is here. Analysis of framework with risk-averse buyers is here.
Comparative Ignorance Hypothesis and Business Training, Economic Letters, 197 (2020): 109640
Limited Impact of Business Development Programs on Entrepreneurs' Profitability in the Presence of Ambiguity Aversion, Korean Economic Review, 36.2 (2020), pp. 377-413. Asian Development Bank Economics Working Paper Series, Paper No. 614.
An Experimental Study of Alternative Campaign Finance Systems: Transparency, Donations and Policy Choices, Economic Inquiry, Vol. 54.1 (2016), pp. 485–507 (joint with Hanming Fang and Artie Zillante)
Microfinance and Dynamic Incentives, Journal of Development Economics, Vol. 115 (2015), pp. 73-84.
Level-k Reasoning in a Generalized Beauty Contest, Games and Economic Behavior, Vol. 86 (2014), pp. 308-329 (joint with Xianwen Shi and Artie Zillante)
Heterogeneous Effect of a Per Diem Prospective Payment System on Hospitals' Volume and Quality (joint with Galina Besstremyannaya), The Lancet, 381 (2013): S14. Complete theoretical analysis is here.
Profitability of Name Your Own Price Mechanisms in the Case of Risk-Averse Buyers, Marketing Science, Vol. 30.2 (2011), pp. 290-304
Anticipated and Unanticipated Effects of Crude Oil Prices and Gasoline Inventory Changes on Gasoline Prices, Energy Economics, Vol. 33 (2011) pp. 758-769 (joint with Stan Radchenko)
Naming Your Own Price Mechanisms: Revenue Gain or Drain?, Journal of Economic Behavior and Organization, Vol. 72 (2009), pp. 725-737 (joint with Artie Zillante)
Evolution of Heterogeneous Beliefs and Asset Overvaluation, Journal of Mathematical Economics, Vol. 45 (2009), Issues 3-4, pp. 277-292
The Role of Utility Interdependence in Public Good Experiments, International Journal of Game Theory, Vol. 38 (2009), Issue 1, pp. 81-106
Market Segmentation: The Role of Opaque Travel Agencies, Journal of Economics & Management Strategy, Vol. 17 (2008), Issue 4, pp. 803-837 (joint with Xianwen Shi)
Bottlenecks in Regional Markets for Natural Gas Transmission Services, Energy Economics, Vol. 29 (2007), Issue 1 pp. 37-45 (joint with Vadim Marmer and Paul MacAvoy)
Other Publications
Set-Level Strategic and Psychological Momentum in Best-of-Five Matches in Professional Tennis, (joint with Craig Depken and John Gandar), Applied Economic Letters, Vol. 30.6 (2023), pp. 735-739
Revealing Negative Information in Monopoly and Duopoly Settings: Experimental Analysis (joint with Jaesun Lee), Korean Economic Review, Vol. 38.1 (2022), pp. 167-205
Cheap-Talk Disclosure of Negative Information and Risk-Averse Buyers , (joint with David Seung Huh), Seoul Journal of Economics, Vol. 34.3, (2021), pp. 365-392
Evaluating Causal Impact of Microfinance: Challenges and Results, 경제논집 (2021), 60(1), 3-32
Theoretical Analysis of Hospitals' Response to a Per Diem Prospective Payment System, Seoul Journal of Economics, 34.2 (2021), pp. 171-202
Characteristics of Mutual Funds with Extreme Performance, Review of Financial Economics 34 (2017), pp. 50-60 (joint with Jason Berkowitz and Patrick Schorno), featured in “Why Best and Worst Mutual Funds Have More in Common Than You Think” (The Street, August 5, 2016)
Contribution Limits and Transparency in a Campaign Finance Experiment, Southern Economic Journal, 84.1 (2017), pp. 98-119 (joint with Artie Zillante)
Dividends as Signaling Device and the Disappearing Dividend Puzzle, Journal of Economics and Business, Vol. 79 (2015), pp. 62–81 (joint with Anan Zhuang)
Pricing of Skewness in Emerging Markets, The Journal of the Academy of Behavioral Finance & Economics (2011), Vol. 1, Issue 2, pp. 43-59 (joint with Cinder Xinde Zhang)
Abandoned Projects
Randomized sign tests for dependent observations on discrete choice under risk (with Anat Bracha, Jeremy Gray, Rustam Ibragimov, Boaz Nadler, Glena Ames and Donald Brown), July 2005. Available as Cowles Foundation Discussion Paper 1526.